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Elden [556K]
3 years ago
6

At the beginning of Year 2, the company repurchased and retired 1,100 shares at $8.10 per share. Prepare the appropriate journal

entry for the repurchase and retirement of the shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Business
1 answer:
Tema [17]3 years ago
5 0

Answer:

Explanation:

We have two journal entries to be able record the repurchase and retirement of the shares

First journal to record the share repurchased

Dr Treasury stock 8,910

Cr Cash 8,910

While the second journal is to record the retirement of share repurchased:

Dr Common stock 1,100

Dr Paid-in capital common stock 2,310

Dr Retained Earning 5,500

Cr Treasury stock 8,910

To record the share repurchased:

The Treasury stock account is debited with the amount that is equals to cash paid for stock that is been repurchased, therefore, offsetting entry is credit Cash account = Number of share repurchased multiply Price purchase

= 1,100 * 8.1

= $8,910

Also, to record the retirement of share repurchased:

The common stock account is been debited at the amount = Par value multiply by Share retired

= 1 * 1,100

= $1,100

As one common stock is carried $2.1 value excess of par ( which is calculated as 168,210 / 80,100); paid-in capital account is debited by $2,310 ( 1,100 * 2.1)

The retained earning is been debited by the amount is calculated as follows,;

Number of share retired multiply by ( Price at retired - Par value - Excess of par value) = 1,100 * ( 8.1 -1-2.1) = $5,500

Treasury account is debited $8,910 to bring the balance of this account to zero as stocks repurchased are fully retired.

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Answer:

D) normative control.

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Normative control is a strategy that governs the behavior of employees through the use of beliefs and values called norms rather than the written procedures and policies.

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The construction division has a highly seasonal workload, with fewer projects in the winter than in the summer. Also, different expertise is needed for different kinds of buildings. So hiring a permanent workforce is counterproductive as they will be paid when there is no work to be done. The best strategy is to hire temporary workers. Also there is need for specialised staff to work on specific projects.

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A strategy of related diversification requires most firms to organize around geographical areas or product lines. This type of o
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There are three clues labeled "daily double" on the game show Jeopardy. If three equally matched contenders play, what is the pr
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Answer:

a)  0.0358

b)  0.0395

c)  0.1506

Explanation:

Number of clues "daily doubles" = 3

Determine the probabilities

<u>a) P(single contestant finds all three ) </u>

assuming event A= a returning champion gets the "daily double" in first trial

P(A) = 1/30 , P(~A) = 29/30              

assuming event B = any player picks up "daily double" after the first move

P(B |~A ) = 1/3

hence : P ( B and ~A ) = 29/30 * 1/3 = 29/90

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P(player chooses both daily doubles ) = 1/3 * 1/3 = 1/9

∴ P(single contestant finds all three )  = 29/90 * 1/9 = 0.0358

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= (1/30 + 29/90 )* 1/9

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Answer:

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4. Place : in the marketing mix, location of where the product is very important. The location should be in a place where the product is highly visible and also very accessible.

5. Packaging : the product has to be packaged in a way that is visually attractive most people make judgement on a product from how the product looks.

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